Community First Earnings Scheduled for Release in 10-Q
14 Juli 2004 - 4:00PM
PR Newswire (US)
Community First Earnings Scheduled for Release in 10-Q FARGO, N.D.,
July 14 /PRNewswire-FirstCall/ -- Community First Bankshares, Inc.
(NASDAQ:CFBX) announced today that the company does not intend to
issue an earnings press release prior to the filing of its 10-Q for
the second quarter. On March 16, BancWest Corporation and Community
First announced a definitive merger agreement pursuant to which
BancWest will pay $32.25 for each Community First share in a cash
transaction valued at $1.2 billion. Community First shareholders
approved the merger at the company's annual meeting on June 30. The
parties are awaiting approval of the Federal Reserve and intend to
close the transaction as soon as practicable following receipt of
such approval. If the transaction has not closed when the 10-Q is
due in August, the company's results for the second quarter will be
released in Community First's 10-Q when it is filed with the
Securities and Exchange Commission. Community First Bankshares, a
$5.5 billion financial services company, provides a complete line
of banking, investment, insurance, mortgage and trust products to
individuals and businesses. The company's extensive offering of
financial products and services is marketed through full-service
offices in 138 communities in 12 states -- Arizona, California,
Colorado, Iowa, Minnesota, Nebraska, New Mexico, North Dakota,
South Dakota, Utah, Wisconsin and Wyoming. The company's services
include an online banking system that offers electronic bill
payment and discount brokerage capabilities, telephone banking and
an extensive ATM network. Community First Bankshares stock is
traded on The Nasdaq Stock Market(R) under the symbol CFBX. The
latest investor and other corporate information is available at its
Web site, http://www.communityfirst.com/ . This press release
contains forward-looking statements under the Private Securities
Litigation Reform Act of 1995 that are subject to certain risks and
uncertainties that could cause actual results to differ materially
from historical earnings and those presently anticipated or
projected. The company wishes to caution readers not to place undue
reliance on any such forward- looking statements, which speak only
as of the date made. Factors that could cause actual results to
differ from the results discussed in the forward- looking
statements include, but are not limited to: risk of loans and
investments, including dependence on local economic conditions;
competition for the company's customers from other providers of
financial services; possible adverse effects of changes in interest
rates; execution and implementation of a series of previously
announced strategic initiatives; balance sheet and capital ratio
risks related to the share repurchase program; risks related to the
company's acquisition and market extension strategy, including
risks of adversely changing results of operations and factors
affecting the company's ability to consummate further acquisitions
or extend its markets; and other risks detailed in the company's
filings with the Securities and Exchange Commission, all of which
are difficult to predict and many of which are beyond the control
of the company. DATASOURCE: Community First Bankshares, Inc.
CONTACT: Jeff Wilhoit of Financial Relations Board,
+1-312-640-6757, , or Mark A. Anderson of Community First
Bankshares, Inc., +1-701-298-5600, Web site:
http://www.communityfirst.com/
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